Sep 26, 2025
Bellevue-based Lake Washington Partners, a family-owned commercial real estate investor and developer focused on office and industrial properties across the United States, has acquired a roughly 1.1-million-square-foot Class A distribution center in Hanover County, Virginia.
The deal for a site known as Hickory Hill underscores Lake Washington Partners’ commitment to investing in high-quality logistics assets with long-term growth potential, according to a news release today from the company. Located in the Richmond metropolitan area, Hickory Hill offers strong regional and national connectivity, providing access to more than 55% of the U.S. population within 750 miles, the release noted, adding that the property also benefits from proximity to the Port of Virginia; Washington, D.C.; and being at the midpoint of the East Coast’s primary north-south business corridor.
A price was not disclosed. The seller is a joint venture between Raith Capital Partners and Equity Industrial Partners.
The site, on 189.5 acres, includes 36-foot clear ceiling heights, four oversized drive-in doors, 120 dock doors, LED lighting, ample auto and trailer parking, and a high weight-bearing floor slab to support distribution. Hickory Hill also has land for future expansion.
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